Vallourec to sell Düsseldorf-Rath site (Germany) for €155 Million [Yahoo! Finance]
VALLOUREC SA SP/ADR (VLOWY)
NASDAQ:AMEX Investor Relations:
vallourec.com/en/group/finance/investor_relations/pages/default.aspx
Company Research
Source: Yahoo! Finance
Meudon (France), December 16, 2024 – Vallourec, a world leader in premium seamless tubular solutions, announces today that it has entered into an agreement to sell the substantial majority of its Düsseldorf-Rath production site to CTP, Europe's largest publicly-listed industrial property developer. This transaction involves the sale of the approximately 900,000 square meter property for €155 million. This property was the site of Vallourec's primary tube production operations in Germany, which was closed at the end of 2023 as part of the New Vallourec plan. The transaction is expected to close around year-end 2024, subject to customary closing conditions, including CTP's receipt of the waiver of the City's preemption right. Philippe Guillemot, Chairman of the Board of Directors, and Chief Executive Officer commented: “We are pleased to announce another deal with CTP, who has proven to be a reliable partner in the streamlining of our German asset base. This transaction marks a maj
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